Kahlon: Contractors no longer control supply and demand

Moshe Kahlon  photo: Globes TV
Moshe Kahlon photo: Globes TV

Finance Minister Moshe Kahlon was speaking at the signing of an agreement to market 5,674 new homes in Migdal HaEmek.

The Ministries of Finance and Construction and Housing, Israel Land Authority (ILA), and the Migdal HaEmek municipality today signed a roof agreement in the northern town. Prime Minister Benjamin Netanyahu attended the ceremony.

The agreement refers to the marketing of 5,674 housing units in Migdal HaEmek by the end of 2019. If the local authority grants approval under the Sheves amendment allowing the local Planning and Building Commission to approve construction of more and smaller apartments on the same site, the number of housing units will rise to 7,183. The roof agreement also includes commercial and business space on four sites.

The roof agreement is designed to increase the area of Migdal HaEmek and the number of its residents, and also the scope of the public institutions in the town, including synagogues, schools, kindergartens, community centers, and sports arenas. The budget for the agreement is NIS 1 billion, including an estimated NIS 750 million in development work, NIS 150 million for public institutions, and NIS 75 million for renovations.

"Huge forces and interests are working hard to keep this government from solving the housing crisis. They won't succeed; we'll plan, market, and build until the crisis is solved," Minister of Finance Moshe Kahlon said at the ceremony in which the agreement was signed. "The buyer fixed price plan is putting an end to the era in which developers and contractors managed Israel's supply and demand. No minister will dare to stop the plan. State land isn't a soft drink; it's a public resource."

Minister of Construction and Housing Yoav Galant said, "This is a significant roof agreement of great importance to the development of Migdal HaEmek. We're pushing as hard as we can to sign roof agreements, because we regard it as strategically important for higher income people to move from the central region to towns in the Negev and the Galilee."

Migdal HaEmek Mayor Eli Barda added, "This is a historic moment for Migdal HaEmek, which growing rapidly and in a hurry to go ahead with a roof agreement for construction of thousands of housing units after extending the town's borders and preparing an overall outline plan, together with construction of 6,000 housing units throughout the town. Our next task is to promote a general urban renewal plan for the old town center and the older neighborhoods."

Published by Globes [online], Israel Business News - www.globes-online.com - on November 6, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Moshe Kahlon  photo: Globes TV
Moshe Kahlon photo: Globes TV
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